RANGERS Football Club is planning a £20million Aim float to help it buy new players and bring back the "glory days".

The Glasgow club, managed by former striker and Question of Sport captain Ally McCoist, is talking to possible investors for a listing by the end of the year.

It is being advised by Cenkos and would probably float with a market value of £25million to £30million. Its Old Firm rival Celtic is already on Aim.

Chief executive Charles Green - whose firm Sevco bought Rangers after it went into administration this year with unpaid tax bills - said the shares would be priced at £1 to £1.50 each, with a minimum investment of £500.

Green will probably take 20 per cent of the shares and institutions will take 60 per cent, leaving the rest for supporters.

The cash will go on strengthening the playing squad at the club, which is presently leading the Scottish Third Division.

Rangers is debt free and a huge club with enormous support

Rangers were demoted from the Scottish Premier League after it went into administration. Green said money will also be spent on building a hotel and a members' club next to the ground.

He is hoping to boost kit sales to Rangers fans abroad and increase online match broadcasts.

Despite its fall from grace, the club continues to attract around 50,000 fans to its home games - higher than most of the English Premier league.

Green said: "Rangers is debt free and a huge club with enormous support and a 140-year track record of success on the domestic and international arenas.

"Our aim is to return the club to its glory days, whilst ensuring it is run efficiently and profitably."

The club has a proud history, including 54 league titles, 33 Scottish Cups and a European trophy. With a 60,000 stadium capacity, Green said Rangers could also join the English Premier or a future European league.

"Barcelona and Real Madrid would like it. Those games would be a sell-out," he said.